More IRS Audits For Closely-held Businesses on the Way

Prior to the Tax Executives Institute’s 62nd mid-year conference, Steven T. Miller, IRS Deputy Commissioner, Service and Enforcement, prepared some remarks regarding current issues and proposed actions being discussed.

“I also want us to move more deeply into the mid-market – those firms and partnerships between $10 and $250 million in assets.  Up to now, our presence in the mid-market – where we currently have about 11.9% coverage – hasn’t been as robust as we would like it to be,” said Miller. Continue reading